1215 S Athena Way — Sale in Anaheim, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Anaheim, CA 92806

Investment Figures

Cap rate
4.45%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the opportunity to acquire 1215 South Athena Way, a 4-unit multifamily property located in Anaheim, CA. Built in 1972, the property offers a desirable unit mix, strong parking, and meaningful recent improvements in a well-located Anaheim submarket. The property consists of two and three-bedroom units, each with private outdoor space and individual laundry hookups located within the unit’s assigned garage, a highly sought-after amenity that supports tenant retention and rental demand. Current ownership has completed a full interior renovation of one unit while also investing in multiple property-wide improvements, establishing a clear and proven renovation path for future ownership. The renovated unit highlights the achievable rental and lifestyle upside through modern finishes, while the remaining units provide immediate value-add potential through continued interior upgrades over time. The property is supported by 7 total parking spaces, including three single-car garages, one two-car garage, and two surface spaces, along with recently upgraded windows, garage doors, and major building systems. Combined with its proximity to major employment, entertainment, and transit corridors, 1215 South Athena Way represents a compelling opportunity for both owner-operators and long-term investors seeking a well-maintained Anaheim asset with future upside. Investment Highlights: • The property features a highly marketable mix of one, 2 Bed/1 Bath, two, 2 Bed/2 Bath, and one, 3 Bed/2 Bath units, supporting broad tenant appeal and long-term occupancy stability. • Each unit benefits from private laundry hookups located within its assigned garage, a rare feature for a 4-unit property that significantly enhances tenant convenience and marketability. • Ownership has completed multiple building-wide improvements, including new dual-pane windows and sliding doors, new garage doors with automatic openers, recently replaced water heaters, and mor

Market Context

This multifamily in Anaheim, CA is listed for sale. It is offered at an approximate 4.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Anaheim, CA — view the full market.

As of Q1 2026, the Orange County multifamily market showed average asking rents near $2081.00/unit/mo, rents up 0.6% year over year, and cap rates around 5.4%. Source: multiple brokerage reports, Q1 2026.

Its 4.5% asking cap rate is below the Orange County multifamily market average of about 5.4%, reflecting premium pricing relative to comparable assets. Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Orange County?
About 5.4% as of Q1 2026, per multiple brokerage reports.

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